Investing in a Singapore condo has emerged as a favored option for both domestic and international investors, owing to the country’s strong economy, unwavering political environment, and superior quality of life. With its flourishing real estate sector, Singapore presents a multitude of possibilities for investors, and condos are particularly alluring due to their convenience, facilities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary actions to take when venturing into condo investment in Singapore. To discover more about Singapore’s exciting projects, check out Singapore Projects.
The Savills Singapore marketing agent has listed a portfolio of freehold strata retail units in Lucky Plaza for sale at a total price of $52.6 million. Situated on Orchard Road, Lucky Plaza is a mixed-use development that comprises a residential tower and a six-storey mall with a basement.The portfolio includes 14 retail units that are spread out across the basement and first two levels of the mall. These units vary in size, ranging from 118 to 3,046 square feet, making up a total strata area of 7,266 square feet.According to Savills Singapore, the main highlight of this offering is a food court that spans seven adjoining strata units, covering 3,046 square feet and accommodating 11 stalls. The remaining units are currently leased to a mix of businesses, including a pub, retail shops, beauty service providers, and a maid agency.Read also: Flagship stores grow bigger and bolder as luxury brands target millennials and Gen ZAdvertisementSophia Lim, the director of investment sales and capital markets at Savills Singapore, expects these retail units to benefit from the high foot traffic of Lucky Plaza’s location. She adds, “The basement food court, in particular, benefits from consistently strong crowds daily.”The guide price for the food court is $25.43 million, while the entire portfolio is available for an asking price of $52.6 million.Individual strata retail units are also available for purchase, starting from $1.1 million. Foreigners and companies are both eligible to buy, and no additional buyer’s or seller’s stamp duty will be imposed.Lim believes that prime strata freehold retail assets are becoming more and more desirable among investors due to their rarity, coupled with the Urban Redevelopment Authority’s (URA) rule on not allowing further strata subdivision of commercial properties along Orchard Road. She also expects the URA’s proposed revitalisation in the Orchard precinct to bring in further opportunities for rental growth and capital appreciation for Lucky Plaza.Check out the latest listings for properties in Lucky PlazaAsk BuddyCompare price trends for new condo sales and executive condo salesCondo projects with the most profitable transactions in District 9The total number of units in Lucky PlazaCondo projects with the most unprofitable transactions in District 9Generate a price trend graph for resale condos in District 9Compare price trends for new condo sales and executive condo salesCondo projects with the most profitable transactions in District 9The total number of units in Lucky PlazaCondo projects with the most unprofitable transactions in District 9Generate a price trend graph for resale condos in District 9